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Boost for shareholders as parcels help Royal Mail to £311m profit

Company unveils £400m payout saying pandemic has created permanent rise in parcel volumes

Royal Mail is handing £400m to shareholders after its parcel delivery business benefited from the greater shift to online spending during the Covid pandemic.

It achieved a £311m pre-tax profit in the six months to 26 September, after barely scraping a profit last year, thanks to an accelerated trend to more parcels, which it described as a permanent shift. Revenues rose by 7% year-on-year to £6.1bn.

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Read the original article at The Guardian

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